KPJ Healthcare net profit for third quarter down 26.8% to RM33.97 million

PETALING JAYA: KPJ Healthcare Bhd’s net profit for the third quarter ended Sept 30, 2020 fell 26.8% to RM33.97 million from RM46.41 million in the same quarter of the previous year, attributed to lower activities in hospital operations.

Revenue for the quarter stood at RM850.71 million, a 7.4% decline from RM919.1 million previously due to the lower number of patients.

The group told the local bourse that its Malaysian operation saw a profit before tax (pbt) of RM69.7 million, 11% lower compared wiith RM78.6 million pbt previously.

Meanwhile, its other operations which have been affected by the Covid-19 pandemic saw a loss before tax (lbt) of RM13.6 million against a pbt of RM9 million previously.

In the first three quarters of the year, its net profit stood at RM85.16 million, a 33.1% decline from RM127.37 million previously.

Revenue for the period fell 11.2% to RM2.36 billion from RM2.66 billion previously.

For the remainder of the financial year, KPJ recognises that its performance will be adversely affected by the pandemic which has caused widespread economic slowdown in Malaysia and globally.

“At the current rate of recovery and continuing uncertainties, the group remains cautiously optimistic and will continue to focus on disciplined management of costs and efficient operational cash flows strategy,” it said.

For the remainder of 2020, the group expects the business environment to stay challenging.